Entrepreneurship Development Questions and Answers || Entrepreneurship Development MCQ part-2

Answer.4. cellular layout

Explanation:

The cellular layout is an innovative layout. It provides for faster processing time, less material handling, less work-in-process inventory, and reduced setup time, all of which reduce costs. Flexibility. Cellular manufacturing allows for the production of small batches, which provides some degree of increased flexibility.

Answer.1. process layout

Explanation:

• A process layout is also called a job-shop or Functional layout.
• It is referred to as group layout.
• In this layout, similar equipment or machines are grouped together.
• This layout is useful to produce High varieties of products with low volume.
• Part travels, according to the established sequence of operations, from area to area, where the proper machines are located for each operation.
• Hospitals, where the areas are dedicated to a particular type of care, is an example of this.

Answer.3. stationary layout

Explanation:

In stationary layout, the manufacturing operations require the movements of men, machines, and materials in the product layout and process layout, generally the machines are fixed installations and the operators are static in terms of their specified work stations.

Answer.1. process layout

Explanation:

• A process layout is also called a job-shop or Functional layout.
• It is referred to as group layout.
• In this layout, similar equipment or machines are grouped together.
• This layout is useful to produce High varieties of products with low volume.
• Part travels, according to the established sequence of operations, from area to area, where the proper machines are located for each operation.
• Hospitals, where the areas are dedicated to a particular type of care, is an example of this.

Answer.3. project report

Explanation:

A project report is a post-investment process. It enables to prepare detailed specifications and design, engineering., drawings, site investigation, time schedule for project implementation etc. Thus, the project formulation is a pre-investment decision and the project report is a post-investment decision.

Answer.3. project report

Explanation:

A project report is a post-investment process. It enables to prepare detailed specifications and design, engineering., drawings, site investigation, time schedule for project implementation etc. Thus, the project formulation is a pre-investment decision and the project report is a post-investment decision.

The project report provides clues to all those pertinent questions such as “what, why, how, when, and where” of the project.

Answer.1. feasibility report

Explanation:

A feasibility report is a document that assesses potential solutions to the business problem or opportunity and determines which of these are viable for further analysis. Departments are not required to carry out in-depth studies and investigations and prepare feasibility reports before submitting their proposals.

Answer.3. project report

Explanation:

The details gathered from feasibility studies are presented in various tables, reports, and statements are consolidated into one master report which is called ‘Project Report’. This report contains the background information about the industry to which the project belongs and the enterprise submitting the report. The main objective of preparing the report is to provide information for the project appraisal.

Answer.3. project report

Explanation:

A Project Final Report is used to document project successes, lessons learned and performance in order to signal improvement in project delivery for the future.

Answer.1. raw materials

Explanation:

Utility, in economics, refers to the usefulness or enjoyment a consumer can get from a service or good. Examples of raw materials include steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals.

Answer.1. KFC

Explanation:

Institutional promotion is the promotion of the organization as a whole- its ethics, values, goodwill, its sense of social responsibility, in an effort to improve brand recognition and increase its public relationship appeal. It is considered generally as a form of advertising.

KFC is not industries promotional institution.

Answer.2. decision-making

Explanation:

Decision-making is the ability that involves making decisions about the decision process itself. Understanding better about “how to decide” decision-makers can improve the quality of their decisions and use less time and resources.

Answer.3. project development

Explanation:

Project development skill helps an entrepreneur to establish an enterprise.

An entrepreneur plans to establish an enterprise. In order to be effective, he should know how to conceive the project, the stages through which he should go to establish it, the information he may have to collect, the factors he may have to consider in taking investment decisions, etc.

Answer.4. management

Explanation:

Once an enterprise is started, its proper management which is crucial to its survival and growth has to be ensured. Management skills relate to accounting and financing control, marketing, production planning, and inventory control and to managing the people who work in the enterprise.

Answer.1. communication

Explanation:

Every entrepreneur must be able to communicate effectively with clients, team members, and all other stakeholders. Whether through verbal communication during meetings or sending reports and messages through emails about the project, entrepreneurs require superior written and verbal communication.

Answer.1. government-sponsored

Explanation:

Incubators focus on early-stage startups that do not have a business model in place. They help nurture a startup by developing its strong idea into a viable product and are commonly referred to as a school for startups. Incubators typically work on a fee basis as opposed to taking an equity stake in the startup.

Incubators organized by the government are called government-sponsored.

Answer.2. non-profit organizations sponsored

Explanation:

Non-profit organizations sponsored incubators sponsored and managed through associations, chambers of commerce etc.

Incubators focus on early-stage startups that do not have a business model in place. They help nurture a startup by developing its strong idea into a viable product and are commonly referred to as a school for startups. Incubators typically work on a fee basis as opposed to taking an equity stake in the startup.

Answer.3. university-sponsored

Explanation:

University incubators are considered science and technology incubators. The major goal of university-related incubators is to transit the findings of fastening research and development into new products and technologies. Some of the academic institutions like IIMs are also acting as business incubators.

Answer.4. privately sponsored

Explanation:

Privately Sponsored incubators are organized and managed by private firms or companies or cooperations. The major goal is to make profit.

Answer.1. general-purpose

Explanation:

General-purpose incubators provide all the set of services from the pre to the post-incubation phase and provide support to all those who have a feasible idea not withstanding the provenance and the economic sector involved.

General-purpose incubators create employment.

Answer.2. technology

Explanation:

Technology-based incubators are new firms established for the purposes of commercializing a new technology or of providing an innovative service on the basis of new technology. Such enterprises generally have limited capital and assets and largely depend on their innovative capacity and human capital to succeed in the marketplace.

Answer.3. specialist

Explanation:

Sector-specific incubators provide all the set of services from the pre to the post-incubation phase and provide support to all those who have a feasible idea within a specific economic sector (e.g. environment, agro-food, chemicals, art, and craft, etc.), which is the expression of the real endogenous potential of the territory where the incubator is located. According to the specificities of the sector, these may require specific infrastructure to meet the needs of the client companies.

Answer.3. site

Explanation:

The criterion for choosing the right incubator is

1. Success Rate
2. Project quality
3. Project Space

Answer.4. business clusters

Explanation:

A business cluster is made up of a core group of highly specialized firms from the same industry. There will also be many supporting firms that supply goods and services to the core industries in the cluster. The governmental support is usually in the form of setting up infrastructure for use by the core industries.

Answer.4. all of these

Explanation:

The unavailability of adequate and timely credit facilities, high cost of credit, lack of modern technology, no research, and innovations, insufficient training and skill development, complex labor laws, bogus unit, lack of managerial experience,  are the main problems of the MSME`S.

Answer.4. Philip Kotler

Explanation:

The slogan “innovate or evaporate” was given by Philip Kotler

Answer.1. Rajkot

Explanation:

The first industrial estate in India was established by SSIB in 1955 at Rajkot in Gujarat.

Answer.3. 1955

Explanation:

The first industrial estate in India was established by SSIB in 1955 at Rajkot in Gujarat.

Answer.2. industrial estate

Explanation:

Industrial Estate: An industrial estate can be defined as a method of organizing, housing, and servicing industry, a planned clustering of industrial enterprises offering standard factory building erected in advance of demand and providing a variety of services and facilities to the occupants.

Answer.2. bridge capital

Explanation:

Bridge Capital is a form of temporary financing intended to cover a company’s short-term costs until the moment when regular long-term financing is secured. Thus, it is named bridge financing since it is like a bridge that connects a company to debt capital through short-term borrowings.

Answer.2. innovation

Explanation:

Innovation is the work of entrepreneurs. Innovation refers to an individual or organization creating new ideas, such as new products, workplace processes and upgrades to existing services or products.

Answer.1. invention

Explanation:

The invention is something such as a device or process that has been created or made up, or the process of creating or making up something or figuring out a way to do something. The invention is the work of scientists.

Answer.2. custom of people

Explanation:

Environmental barriers in entrepreneurship

Raw material: Non-availability of raw materials required for production during the peak season. This leads to an increase in the price of raw materials due to competition.
Labor:

1. Shortage of skilled labor

2. Lack of committed and loyal employees.

3. Quality and quantity of labor.

Answer.1. 

Explanation:

Social barrier to entrepreneurship

1. Socio-cultural norms and values.
2. The degree of approval or disapproval of entrepreneurial behavior.
3.  Financial stability and family background
4. Caste and religious affiliation
5. Custom of people
6. Low status in society

Answer.3. competency

Explanation:

Competency is a combination of knowledge, skills and appropriate motives that an individual must possess to perform a given task.

It is the capability to apply or use a set of related knowledge, skills, and abilities required to successfully perform “critical work functions” or tasks in a defined work setting.

Answer.1. persistence

Explanation:

Persistence is the capacity to take repeated and different actions to overcome obstacles.

An entrepreneur is able to make repeated efforts or to take different actions to overcome an obstacle that get in the way of reaching goals. An entrepreneur takes repeated or different actions to overcome an obstacle and Takes action in the face of a significant obstacle.

Answer.2. initiative

Explanation:

An inner urge in an individual to do something is called initiative.

The entrepreneur should be able to take actions that go beyond his job requirements and to act faster. He is always ahead of others and able to become a leader in the field of business.He Does things before being asked or compelled by the situation and acts to extend the business into new areas, products or services.

Answer.4. persuasion

Explanation:

Persuasion is the ability of an entrepreneur to successfully convince others.

Entrepreneurs with this competency successfully pursue others to perform the activities effectively and efficiently. An entrepreneur can persuade or influence others by mobilizing resources, obtaining inputs, organizing productions, and selling his products or services.

Answer.1. quantifiable

Explanation:

Projects for which a plausible. quantitative assessment of benefits can be made art called “quantifiable projects”. Projects concerned with industrial development, power generation fall in this category.

Answer.4. crash

Explanation:

Project crashing is when you shorten the duration of a project by reducing the time of one or more tasks. Crashing is done by increasing the resources of the project, which helps make tasks take less time than what they were planned for. Of course, this also adds to the cost of the overall project.

Answer.2. magnitude oriented

Explanation:

Magnitude-oriented is a large-scale project. Projects may thus be classified based on their investment such as large-scale, medium-scale projects.

Answer.2. sensitivity

Explanation:

Sensitivity analysis is a financial model that determines how target variables are affected based on changes in other variables known as input variables. This model is also referred to as what-if or simulation analysis. It is a way to predict the outcome of a decision given a certain range of variables.

The technique of sensitivity analysis helps in studying the impact of crucial variables (like raw materials, sales volume, sales price. degree of capacity utilization, phasing of capital expenditure) over the economic viability of an enterprise.

Answer.1. break-even

Explanation:

Break-Even Analysis is the study of cost of production and the amount of profit at the different levels of production.

Answer.4. ratio

Explanation:

Ratio analysis compares line-item data from a company’s financial statements to reveal insights regarding profitability, liquidity, operational efficiency, and solvency. Ratio analysis can mark how a company is performing over time, while comparing a company to another within the same industry or sector.

Answer.3. financial

Explanation:

Financial analysis is a continuous process being applicable to every business to evaluate its past performance and current financial position. It is useful in various situations to provide managers with the information that is needed for critical decisions.

Answer.2. CPM

Explanation:

Crashing is the method for shortening the project duration by reducing the time of one or more critical activities to less than their normal time. It is applicable in CPM technique.

Crash time is the minimum activity duration to which an activity can be compressed by increasing the resource and hence by increasing the direct cost of a project.

Answer.3. need for achievement,

Explanation:

Psychological Factors:- Inspiration for achievement prepares an entrepreneur to set higher goals and achieve them. The important psychological factors influencing entrepreneurial growth may be outlined as below:

1. Need of power
2. Need of Achievement
3. Need of affiliation

Answer.1. subsidy

Explanation:

Subsidies are a one-time lump sum amount given to the entrepreneur by the government. It is financial help to cover the cost.

Bounty is a financial help provided to an industry so that it can compete with other units of the country as well as any foreign industry in the same business.

Answer.2. corporate entrepreneurship

Explanation:

Intrapreneurship is also known as Corporate entrepreneurship (CE). It is a term used to describe entrepreneurial behavior inside established mid-sized and large organizations.

Answer.2. Adoptive

Explanation:

Adoptive/Imitative entrepreneurs copy or adopt suitable innovations made by the innovative entrepreneurs. These entrepreneurs imitate the existing entrepreneurs and set up their enterprise in the same manner. Instead of innovating, they just imitate the technology and methods innovated by others.

Answer.1. Fabian 

Explanation:

Fabian entrepreneurs are very careful in their approaches and cautious in adopting any changes. They are not prone to sudden decisions and try to shy away from any innovations or change that doesn’t fit their narrative.

Answer.3. drone

Explanation:

Drone entrepreneurs who do not like a change. They are considered as ‘old school’. They want to do business in their own traditional or orthodox methods of production and systems. Such people attach pride and tradition to even outdated methods of doing business.

Answer.4. all of these

Explanation:

Entrepreneur skills include various skillsets such as leadership, business management, persuading, negotiation, time management, creative thinking, and problem-solving. You can apply these skills in many job roles and industries. These entrepreneur skills are vital for promoting innovation, business growth, and competitiveness.

Answer.1. need for achievement

Explanation:

McClelland’s Human Motivation Theory states that every person has one of three main driving motivators: the needs for achievement, affiliation, or power. These motivators are not inherent; we develop them through our culture and life experiences.

David McClelland first proposed that the need for achievement is an important psychological characteristic of entrepreneurs.

According to McClelland, those high in need for achievement exhibit three main behavioral traits: they take personal responsibility for finding solutions to problems; they set moderate performance goals and take moderate calculated risks, and they desire specific feedback concerning performance”.

Answer.3. Maslow

Explanation:

Maslow’s hierarchy of needs is a theory of motivation which states that five categories of human needs dictate an individual’s behavior. Those needs are physiological needs, safety needs, love and belonging needs, esteem needs, and self-actualization needs.

Answer.3. innovators

Explanation:

According to Schumpeter, an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation.

Answer.4. all of these

Explanation:

Challenges faced by women entrepreneurs in India

1. Fewer sectors are Women friendly
2. Lack of Social and Institutional Support
3. Poor Funding Prospects
4. Lack of Access to Professional Networks
5. Pressure to Stick to Traditional Gender Roles
6. Lack of an Entrepreneurial Environment
7. Mail Dominating society
8. Lack of Education
9. Low Risk-Bearing Ability
10. Lack of financial strength
11. Stiff Competition
12. Limited Industry Knowledge
13. Missing Role Models
14. Social Construct
15. Safety Concerns

Answer.3. Competitor activity

Explanation:

PESTEL Analysis is a strategic framework used to evaluate the external environment of a business by breaking down the opportunities and risks into Political, Economic, Social, Technological, Environmental, and Legal factors.

Some important factor in PESTLE analysis is

1. E-Government recycling policy
2. The proposed reduction in interest rates
3. Demographic changes
4. Cost of Project

Answer.4. All the above

Explanation:

A business plan is an important aspect of developing a new venture. Often a business plan is used to acquire financing. to provide strategic policy, and to attract key individuals with specialized expertise to the new organization. A well-written business plan provides strong data to determine the viability of the proposed business venture and provides a guide for measuring the attainment of goals. It also helps to guide business activities by defining objectives.

Answer.1. takes part in the incorporation of a company

Explanation:

A promoter is a person who takes part in the incorporation of a company. A promoter is the one, who undertakes to form a company with reference to a given object and sets it going and takes the necessary steps to accomplish that purpose.

Answer.4. Managerial competence

Explanation:

The process of preparing an inventory of skills needed for Managerial competence.

Management competencies are the skills, habits, motives, knowledge and attitudes necessary to successfully manage people. When developed, management competencies promote better leadership and contribute to business success.

Answer.2. rules regarding the constitution and activities of the company

Explanation:

A Memorandum of association of a firm contains rules regarding the constitution and activities of the company. A Memorandum of Association (MOA) is a legal document that specifies the scope of business activities of the company and information about the shareholding of the company.

Answer.1. philanthropy

Explanation:

Discretionary responsibility is voluntary and guided by a company’s desire to make social contributions not mandated by economics, law, or ethics.

Discretionary activities include philanthropic contributions that offer no direct financial payback to the company and are not expected.”

Answer.2. obey the laws of the land

Explanation:

Legal responsibilities relate to obey the laws of the land. The moral obligation to obey the law, or as it is generally called, political obligation, is a moral requirement to obey the laws of one’s country.

Answer.4. all of these

Explanation:

Corporate social responsibility (CSR) activities can help forge a stronger bond between employees and corporations, boost morale, and aid both employees and employers in feeling more connected to the world around them. For a company to be socially responsible, it first needs to be accountable to itself and its shareholders.

Answer.1. Entrepreneurship development program

Explanation:

Entrepreneurship Development Programm (EDP) is a program that helps in developing entrepreneurial abilities. The skills that are required to run a business successfully is developed among the students through this program. Sometimes, students may have skills but it requires polishing and incubation.

Answer.4. all of these

Explanation:

Entrepreneurial behavior includes innovations, creativity, creative, problem solving, taking initiative, organization, values, qualities of a successful entrepreneur and the social responsibilities to be assumed by him, etc.

Among these, innovation is the main characteristic of entrepreneurial behavior, since he is a simulator of changes, possesses the abilities to operate new combinations, and acts as a tool to search for new opportunities.

Answer.4. 1950

Explanation:

Economic planning in India started after independence in the year 1950 when it was deemed necessary for the economic growth and development of the nation. Long-term objectives of Five Year Plans in India are: High Growth rate to improve the living standard of the residents of India. Economic stability for prosperity.

Answer.4. All the above

Explanation:

Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.

Importance of small business to a country

1. They give an outlet for entrepreneurs
2. They can provide specialist support
3. They can be innovators of new products
4. They create employment

Answer.2. customer needs in a given market

Explanation:

A macro environment refers to the set of conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy.

Six components of the macro environment are Demographic, Economic, Natural, Technological, Political and Cultural environments.

Answer.3. Brainstorming

Explanation:

Brainstorming is a group problem-solving technique that involves the spontaneous contribution of ideas from all members of the group.

Answer.1. project report

Explanation:

The project report is like a road map. It describes the direction the enterprise is going in, what its goals are, where it wants to be, and how it is going to get there. It enables the entrepreneur to know that he is proceeding in the right direction. Some hold the view that without a well-spelled statement of goals and operational methods to achieve them, the business stands little chance to see success.

Answer.2. Sole proprietorship

Explanation:

A sole trading business is the oldest and simplest form of business organization as in this kind of business, there is no chaos in the management as a person is single-handedly working for the business and also he/she is the single receiver of profit earned.

Answer.1. A franchise

Explanation:

A franchise refers to a contractual arrangement whereby one party (the franchisor) allows another party (the franchisee) to use its trademarks (or tradenames) and other intellectual property, as well as certain business processes and systems.

Answer.2. Technology

Explanation:

PESTLE analysis is a mnemonic, it stands for – Political, Economic, Sociological, Technological, Legal, and Environmental analysis. It is basically all the elements of the macro environment of a business.

Answer.4. All the above

Explanation:

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, lack of market research, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

Answer.1. social behavior

Explanation:

Kunkel presented a social behavioral model of entrepreneurship. This model is concerned with the overtly expressed activities of individuals and their relation to the previous and presents surroundings, socials structures, and physical conditions.

Answer.1. the generation of new ideas

Explanation:

Innovation refers to an individual or organization creating new ideas, such as new products, workplace processes and upgrades to existing services or products. In business, innovation can promote growth, help ensure the organization can compete with new market trends and help generate profit.

Answer.3. Entrepreneurship takes place in a wide variety of contexts

Explanation:

Entrepreneurship takes place in a wide variety of contexts. Entrepreneurship is a skill that is required not only by huge corporations but also by small firms. Entrepreneurs work under the constraints of their environment the political economy. Five factors will be key to entrepreneurial success: creativity, tolerance for risk, responsiveness to opportunities, leadership and the ability to take advantage of the rights afforded to you.

Answer.4. 

Explanation:

The entrepreneurship process involves an innovative idea for a new product, process, or service. A triggering event is something that happens to the entrepreneur that causes him to begin bringing the idea to reality. Implementation is the stage at which the entrepreneur forms a business based on her idea.

The first stage of the small business management process is growth, which usually means the business is becoming large enough to generate enough profit to support itself and its owner. The maturity stage is reached when the business is stable and well established. The harvest stage occurs when the small business manager leaves the business because of its sale, merger, or failure.

Answer.1. economic development

Explanation:

Entrepreneurial development is the key to achieving all-around economic development through the acceleration of industrial and entrepreneurial activities.

Entrepreneurs boost economic growth by introducing innovative technologies, products, and services. Increased competition from entrepreneurs challenges existing firms to become more competitive. Entrepreneurs provide new job opportunities in the short and long term.

Answer.2. Process of role performance

Explanation:

Sociologists consider entrepreneurship as a process of role performance. Entrepreneurs are expected to be governed by the wishes of society, customers, ethics values, child-rearing practices, etc.

The sociological approach to the study of entrepreneurship deals with social and cultural factors responsible for the nature and growth of entrepreneurship development in a society. It attempts to understand why a social structure and culture facilitates or inhibits entrepreneurial development.

Answer.4. Status quo in business

Explanation:

A successful entrepreneur must be able to make wise decisions about how he uses his time, continually evaluating and prioritizing tasks according to relevance and importance.

Answer.4. All the above

Explanation:

The various functions of entrepreneurship are Innovation and creativity, Risk-taking and achievement and organization and management, Catalyst of Economic Development, Overcoming Resistance to Change and Research, imagining a business idea, studying project feasibility, to set up an enterprise.

Answer.4. Managerial training

Explanation:

The various functions of entrepreneurship are Innovation and creativity, Risk-taking and achievement and organization and management, Catalyst of Economic Development, Overcoming Resistance to Change and Research, imagining a business idea, studying project feasibility, to set up an enterprise.

Answer.4. All of these

Explanation:

An entrepreneur refers to a person who set up his own business with a new idea or concept. S/he is a person who creates something new and assumes the risks and rewards associated with that innovation. Entrepreneurs are not totally born nor made.

Answer.3. He operates production activities

Explanation:

Entrepreneurship takes place in a wide variety of contexts. Entrepreneurship is a skill that is required not only by huge corporations but also by small firms. Entrepreneurs work under the constraints of their environment the political economy.

Five factors will be key to entrepreneurial success: creativity, tolerance for risk, responsiveness to opportunities, leadership and the ability to take advantage of the rights afforded to you.

Answer.3. People are politically motivated by needs

Explanation:

Maslow”s Hierarchy of needs theory is governed by the fact that People are politically motivated by need.

Maslow’s hierarchy of needs is a theory of motivation that states that five categories of human needs dictate an individual’s behavior. Those needs are physiological needs, safety needs, love and belonging needs, esteem needs, and self-actualization needs.

Answer.2. Imitative Entrepreneurs

Explanation:

Imitative entrepreneurs are those who run their enterprises by imitating the successful innovations applied by innovative entrepreneurs. In other words, they do not have an interest in innovative activities, the same as that of innovative entrepreneurs.

For e.g In underdeveloped countries, local mobile phone companies use the same technology used by big companies to manufacture their products

Answer.4. Successful entrepreneurs must have a break-through invention

Explanation:

Myth associated with entrepreneurship

1. Entrepreneurs are born that way.
2. The only requirement is a good idea.
3. Starting a new business guarantees freedom
4. Launching a company quickly leads to wealth
5. Only money motivates employees
6. Businesses either flourish or fail
7. All responsibility falls on the entrepreneur
8. Quitting is for losers
9. Successful entrepreneurs must have a break-through invention

Answer.3. The desire to grow at a slow and controlled pace

Explanation:

Entrepreneurial culture can be described as an environment where someone is motivated to innovate, create and take risks.

Growth-oriented entrepreneurship seeks to create and scale-up businesses that will drive productivity growth, create new employment, increase innovation, promote business internationalization, and achieve sustainable economic growth.

Entrepreneurial culture and growth orientation consist of all of the following except the desire to grow at a slow and controlled pace.

Answer.1. A semi-autonomous group

Explanation:

Organization Entrepreneurial activity can be organized in a variety of ways. Sectors. Intrapreneurship or corporate entrepreneurship mostly takes the form of a semi-autonomous group (e.g. an internal venture team), operating within the overarching structure of the parent organization.

Answer.1. venture capitalist

Explanation:

A  venture capitalist is a professional money manager who makes risk investments from a pool of equity capital to obtain a high rate of return on investments

A venture capitalist (VC) is a private equity investor that provides capital to companies with high growth potential in exchange for an equity stake. This could be funding startup ventures or supporting small companies that wish to expand but do not have access to equities markets.

Answer.2. a business plan provides lenders and investors assurance that they will earn a decent return

Explanation:

A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.

A business plan is important for all of the following reasons EXCEPT a business plan provides lenders and investors assurance that they will earn a decent return.

Answer.4. financial institutions

Explanation:

To provide financial assistance to entrepreneurs the government has set up a number of financial institutions. A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

Answer.3. Project

Explanation:

A project can be defined as a scientifically evolved work plan devised to achieve a specific objective within a specified period of time. Taken in this perspective, while projects can differ in size, nature, objectives, and complexity, they must all partake of three basic attributes of being a course of action; of having specific objectives; and of involving a definite time perspective.

Answer.1. Project Scheduling

Explanation:

Project Scheduling is used to accomplish the project economically in the minimum available time with limited resources.

Project scheduling Determine the optimum schedule of the project and show it on a Gantt Chart.

Answer.4. Venture capital

Explanation:

Venture capital (VC) is a form of private equity and a type of financing that investors provide to startup companies and small businesses that are believed.

Venture capital is a form of financing especially designed for funding high technology, high risk, and perceived high reward projects. Thus, venture capital helps entrepreneurs translate their new ideas into commercial production.

Answer.4. An opportunity

Explanation:

An opportunity is a favorable set of circumstances that creates the need for a new product, service, or business idea.

Answer.3. trying out alternative uses of existing products

Explanation:

Three Ways to Identify an Opportunity are

1. Observing Trends,
2. Solving a Problem, and
3. Finding Gaps in the Marketplace.

Answer.2. identifying a currently available product or service and then building a business around a better version

Explanation:

• Some problems are solved by entrepreneurs who frame a problem differently than it’s been thought of before and then propose an appropriate solution.
• Entrepreneurs can be recognizing problems in emerging trends.
• Entrepreneurs experience a problem in one’s own life, and then realize the solution represents a business opportunity

Answer.1. brainstorming

Explanation:

Characteristics shared by  excel at recognizing opportunities are

1. Prior experience
2. Entrepreneurial alertness
3. Social contacts and ties with others
4. Cognitive Factor

Answer.2. Is the product or service financially feasible?

Explanation:

Product/Service Desirability The first component of product/service feasibility is to affirm that the proposed product or service is desirable and serves a need in the marketplace. You should ask the following questions to determine the basic appeal of the product or service:

1. Does it make sense? Is it reasonable? Is it something consumers will get excited about?
2. Does it take advantage of an environmental trend, solve a problem, or fill a gap in the marketplace?
3. Is this a good time to introduce the product or service to the market?
4. Are there any fatal flaws in the product or service’s basic design or concept?

Answer.3. the industry is crowd

Explanation:

Answer.4. Organizational feasibility analysis

Explanation:

Organizational feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business. It defines a business’s corporate and legal structure.

Answer.3. 

Explanation:

An executive summary should summarize the key points of the report. It should restate the purpose of the report, highlight the major points of the report, and describe any results, conclusions, or recommendations from the report.

The executive summary is the most important section of the business plan because if this section of the plan fails to attract an investor’s interest, he or she is unlikely to read the remainder of the plan.

Answer.2. Greater ability to serve specialized markets

Explanation:

Disadvantages of Small Business Ownership

1. Financial risk
2. Stress
3. Time commitment
4. Undesirable duties

Small businesses are often able to respond quickly to market changes because they do not always have highly specialized equipment that is specific to a small range of products.

Answer.4. assistance in filling out paperwork

Explanation:

The Small Business Administration (SBA) is a major way that government assistance to small businesses is made available. The financial assistance to small businesses provided by the Small Business Administration takes the form of assistance in filling out paperwork maintaining the records,  or providing you with the information requested.

Answer.2. qualifications of the owner

Explanation:

At their core, business plans have 5 basic pieces of information. They include a description of your business, an analysis of your competitive environment, a marketing plan, a section on HR (people requirements) and key financial information.

Qualifications of the owner are not required in the business plan.

Answer.4. All the above

Explanation:

EDPs course contents contain

• General Introduction to Entrepreneurship
• Motivation Training
• Management Skills
• Support System and Procedure
• Fundamentals of Project Feasibility Study
• Plant Visits

Answer.1. MSMED Act 2006

Explanation:

MSME stands for Micro, Small, and Medium Enterprises. It was introduced by the Government of India in agreement with the MSMED (Micro, Small, and Medium Enterprises Development) Act of 2006. As per this act, MSMEs are the enterprises involved in the processing, production, and preservation of goods and commodities.

Answer.4. All of the above

Explanation:

MSMEs are the backbone of economy of a country in terms of sustainable growth, employment generation, increasing trade, development of entrepreneurial skills and contribution to export earnings.

Answer.3. 25

Explanation:

• The limit of investment in plant and machinery for a micro-enterprise does not exceed Rs. 25 lakh

Answer.3. Plant & machinery

Explanation:

Manufacturing Enterprises: The enterprises engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the Industries (Development and Regulation) Act, 1951). Manufacturing enterprises are defined in terms of investment in Plant & Machinery.

Answer.2. Price of land

Explanation:

The selection of a particular region out of the many natural regions of a country the following factors are to be kept in mind:

1. Availability of raw materials.
2. Availability of power.
3. Suitability of climate.
4. Competition between states.
5. Nearness to the market.
6. Transport facilities.
7. Government policy.

Answer.4. Setting up infrastructure

Explanation:

The following steps are involved in process of setting up a new business enterprise:

• Identification of business opportunities.
• Setting up infrastructure
• Generation of a business idea.
• Feasibility Study.
• Preparation of a business plan.
• Launching the enterprise.

Answer.4. All of the given options

Explanation:

Key factors affecting the type of financing is whether it is better to choose one type of financing over another are:

• how much money is available;
• the assets of the venture;
• the interest rates at the time.

Usually, an entrepreneur meets financial needs by employing a combination of debt and equity financing.

Answer.4. Arranging infrastructural facilities

Explanation:

Basic Feature of EDP:

1. Identification and careful selection of entrepreneurs for training.
2. Developing the entrepreneurial capabilities of the trainee.
3. Ensuring a viable industrial project for each potential entrepreneur.
4. Equipping the trainee with basic managerial understanding.
5. Helping him to secure necessary financial, infrastruc tural, and related assistance.

Answer.2. the Small Business Administration definitions

Explanation:

Entrepreneurs are the founders and creators of new products or services, while small business owners start a type of business that already exists within the marketplace.

The Small Business Administration (SBA) definition of a small business has evolved over time and is dependent on the particular industry. The SBA defined a small business firm as “independently owned and operated…and not dominant in its field of operation This is still part of their definition. At that time,

Answer.4. Systems design

Explanation:

Answer.2. Small business administration

Explanation:

SBA stands for Small business administration. The SBA assists small businesses in four main areas: financing, education and training, government contracting and providing a voice in policy matters. These programs are aimed at helping entrepreneurs start their businesses and keep them thriving.

Answer.4. All the above

Explanation:

EDPs course contents consist of the following six inputs:

1. General Introduction to Entrepreneurship.
2. Motivation Training
3. Management Skills
4. Support System and Procedure
5. Fundamentals of Project Feasibility Study
6. Plant Visits

Answer.3. All India Financial Institutions

Explanation:

Entrepreneurship Development Institute of India (EDII), an autonomous and not-for-profit institute, set up in 1983, is promoted by apex financial institutions – the IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd. and the State Bank of India (SBI), with support from the Government of Gujarat.

Answer.2. 1983

Explanation:

The NIESBUD Library & Information Service section was established on 6th July 1983 to act as assistance for the development of research and training in New Entrepreneurs.

Answer.4. IFCI

Explanation:

IFCI (industrial financial corporation of India) was the first development bank of India in 1948.

Answer.1. industrial estates

Explanation:

State Industrial corporations are state-owned government corporations that engage in the development and promotion of industrial estates such as medium and large industries.

Answer.1. IDBI

Explanation:

The SIDBI was established on April 02, 1990, by the Government of India, as a wholly-owned subsidiary of IDBI. It was delinked from IDBI w.e.f. March 27, 2000. SIDBI is headed by the Chairman & Managing Director.

Answer.4. All of the above

Explanation:

SIDBI is the Primary Financial Institution for promoting, developing, and financing MSME (Micro, Small, and Medium Enterprise) sector. Besides focussing on the development of the Micro, Small, and Medium Enterprise sectors, SIDBI also promotes cleaner production and energy efficiency.

The functions of SIDBI (Small Industrial Development Bank of India) are as follows-

• SIDBI refinances loans and advances extended by the primary lending institution to small-scale industries Units and also provides resources support to them.
• SIDBI discounts and rediscounts the bills arising from the sale of machinery to or manufactured by Industrial units in the small-scale sector.

Answer.1. one year

Explanation:

Provisional registration is a registration that is temporary and which would be regularised on fulfilling certain conditions in the future. The provisional registration is valid for a period of 1 years at first instance

Answer.1. Directorate General of Technical Development

Explanation:

DGTD stands for Directorate General of Technical Development,

Answer.4. August 1972

Explanation:

National Alliance of Young Entrepreneurs (NAYE) sponsored an Entrepreneurial Development Scheme with the Bank of India in August 1972 on a pilot basis. This scheme, known as BINEDS, is operative in the States of Punjab, Rajasthan, Himachal Pradesh, Jammu and Kashmir, and Union Territories of Chandigarh and Delhi.

Answer.1. General manager, DIC

Explanation:

The application for registration of a small scale unit should be submitted to the General manager, DIC.

All Micro & Small Enterprises which are registered with the Director of Industries (DI)/District Industries Centre (DIC) as manufacturing/service enterprises or having Acknowledgement of Entrepreneurs Memorandum are eligible for registration with NSIC under its Single Point Registration Scheme (SPRS).

Answer.1. in each district

Explanation:

District Industries centers are located only in selected districts. District Industries Centre or DIC is a scheme of the central government for supporting and promoting the local and cottage industry in a particular District area.

Answer.1. all the above

Explanation:

A “soft financing” or “soft loan” is a loan given with next-to-no or no interest with extended grace periods, offering more leniency than traditional loans. Many developing nations need funds but cannot afford to borrow at market rates.

The purpose of soft loan scheme is to encourage

1. modernization of plant and machinery
2. replacement of plant and machinery
3. renovation of plant and machinery

Answer.3. All India institution

Explanation:

Exim Bank was established by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies. Exim Bank serves as a growth engine for industries and SMEs through a wide range of products and services. Exim Bank is fully owned by the Government of India.

Answer.1. Joint Director of industries

Explanation:

Each DIC was proposed to be headed by a General Manager of the rank of a Joint Director of Industries and assisted by seven functional managers each having a rank of Deputy Director of Industries/Senior Assistant Director of Industries, in the field of Economic Investigation, Research, Extension, and Training; Machinery and Equipment; Raw Materials; Credit; Marketing and Cottage industries.